SXY is a tricky stock to trade profitably and over the years I've had a few wins and a few losses - so I treat SXY with caution. It has broken above a downtrend, made a new uptrend (from point marked with small red down arrow) and making higher lows and highs. Add on a resistance break pattern confirmed today with a target of $0.35 and SXY has ticked all the boxes on my checklist. Elliott Wave count could be Wave 3 which is another plus as Wave 3 is the longest and strongest rising wave. For anyone into Time Theory the vertical lines are time lines and SXY seems to respect these very well with price having turned close to most.
SXY Price at posting:
30.5¢ Sentiment: Buy Disclosure: Not Held
